Gold was trading close its highest in seven weeks on Friday, poised for a fifth straight weekly climb as weaker equities burnished its safe-haven appeal. The five-week rally - a gain of nearly 5 percent - is the metal's longest winning streak since August-September.
Today’s Trend for Gold:
GOLD (FEB)
Trend: Consolidate | Strategy: Buy on dips
R1- 29470, R2- 29750 | S1-28950, S2- 28680
After a 28-percent dip in 2013, gold is getting a boost this year from weakness in stock markets, which on Thursday were dented by fears of a slowing economy in China. A mixed bag of U.S. corporate earnings is also hurting shares.
Gold is seen as an alternative investment to stocks.
For daily news and updates in MCX and Commodity Market and for getting accurate and profitable tips for trading you can visit our site @
Today’s Trend for Gold:
GOLD (FEB)
Trend: Consolidate | Strategy: Buy on dips
R1- 29470, R2- 29750 | S1-28950, S2- 28680
After a 28-percent dip in 2013, gold is getting a boost this year from weakness in stock markets, which on Thursday were dented by fears of a slowing economy in China. A mixed bag of U.S. corporate earnings is also hurting shares.
Gold is seen as an alternative investment to stocks.
For daily news and updates in MCX and Commodity Market and for getting accurate and profitable tips for trading you can visit our site @
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